Over 60% of leading insurers expect the US to go into recession by 2025, a Goldman Sachs survey found.
Most of the insurers, managing $13 trillion in assets, saw inflation as a concern in the next year.
The Fed’s tightening has contributed to recession fears, and most insurers expect at least three rate hikes.
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Insurers with $13 trillion under management believe the US will enter a recession by 2025, a survey by Goldman Sachs has found.
Many investors have been concerned the Federal Reserve’s aggressive plan for interest-rate hikes in 2022 could dampen the US economy and slow down growth.
In the poll, 63% of insurance company CIOs and CFOs worldwide said they expect an economic downturn in the US within two to three years.
“While few respondents anticipate an immediate recession coming out of the post-pandemic growth cycle, there has been a clear shift in outlook globally,” Goldman Sachs Asset Management said in its survey report.
